https://www.taxtmi.com/circulars?id=8856 The Board advises that Commissioners should not be bound by fixed minimum or maximum fines but should exercise administrative discretion to impose reasonable fines initially for technical defaults and escalate penalties only for repeated failures or where defaults contribute to loss to the Government, maintaining proportionality and taking earlier instructions into account. en-us Thu, 04 May 1972 00:00:00 +0530 Sat, 28 May 2011 15:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=8856 The Board advises that Commissioners should not be bound by fixed minimum or maximum fines but should exercise administrative discretion to impose reasonable fines initially for technical defaults and escalate penalties only for repeated failures or where defaults contribute to loss to the Government, maintaining proportionality and taking earlier instructions into account. Circulars Income Tax Thu, 04 May 1972 00:00:00 +0530 https://www.taxtmi.com/circulars?id=8856